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20121230
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this time. tracy: fiscal clef finger-pointing underway in washington. harry reid says they're headed over the cliff. it is really about senator harry reid and mitch mcconnell? >> to develop the political staring contest democrats say republicans need to move and around rego. the president arrived this morning from hawaii and so with the top democrats and republicans but still no update to report. senate majority leader harry reid said it looks like we're going over a cliff and it is up to the house. >> speaker boner shed call people back to washington today and should not have let them go. they are not here. john boner cared more about his speakership than the financial footing. >> they're now working on a fiscal clear solutions they say the majority leader should talk less and legislate more. also mitch mcconnell says the leader is happy to review with the president what he has in mind but that a majority has not put forward a plan. when they do members will review legislation to make decisions on how fast -- best to proceed. >> it takes time for the house and senate to get something don
leader, harry reid, mitch mcconnell, it is up to them to craft this thing. it is out of his hands for the next couple of days and into the hands of people in the senate. adam: rich edson at the white house. i know that you are going to regroup. gerri willis and "the willis report" will stop where we leave off. gerri willis is up next to explain all this for you. have a great weekend, everybody. gerri: hello, everybody, president obama calling on congress just moments ago asking to avoid the fiscal cliff. he said he is moderately optimistic that a deal could be done by december 31. congressional leaders are working on crafting a bill. certainly no grand bargain here that would improve entitlements. if they can't get a deal, the president has told harry reid to put the white house proposals up for an up or down vote. the details just keep on coming out. with us now are two guests. first, we are going to go rich edson. he is here with the very latest. tell us what you made of the president's comments. he was very direct. reporter: he was. and now he passes on to the senate. senate ma
. harry reid spent the day moaning about how bad of a speaker john boehner is good the house is set to return sunday afternoon just one day before the end of the year. nearly 90% of americans will be hit with $500 billion in tax hikes and spending cuts. as we head off a cliff, what can you and your family expect come january 2? president of the american action reform joins me now. so, windows narrowing, what can we expect from here? >> if we literally go on autopilot and they fail to change course, i am worried about the economy. some sharp equity market attractions, consumer confidence has already begun, lots and lots of notices sent out, layoffs scaring people to death. this is not a good news story for anybody looking for a job. gerri: the clock keeps on taking. the cover of "the new york post," pretty amusing. off the fiscal cliff, this is really going to hurt. i think everybody can relate to that one. for taxpayers, $500 billion increase in taxes. how will that hit people, how meaningful is it going to be, will they see the results in their first paychecks? >> for sure the hig
, the president has told harry reid to put the white house proposals up for an up or down vote. the details just keep on coming out. with us now are two guests. first, we are going to go rich edson. he is here with the very latest. tell us what you made of the president's comments. he was very direct. reporter: he was. and now heasses on to the senate. senate majity leader harry reid, senate minority leader mitch mcconnell. they are trying to come up with something that can pass the house and the senate. the president laid out a proposal earlier this evening. at the beginning of this meeting. $250,000 per year. that income would be shielded from tax increases, and now he wants an extension of unemployment insurance. that is something that essentially a nontarter in a republican-controlled house. now he is leaving it up to the two leaders in the u.s. senate try to reach a compromise. something perhaps along the line of what is being negotiated between the speaker and the president a couple of weeks ago. perhaps a tax increase for amounts of more than $400,000 or $500,000 per year. also, senate le
: president obama back in washington and the senate is back in session. harry reid is addressing the senate. this is days before the fall off of the fiscal cliff. senate democrats are telling republicans get out of the way of a last-minute deal, accept tax increases for people making $250,000 a year. get out of the way. accept that. joining us is the founder of the media research center. blame if problem is spending and neither side is being serious about spending. neither side is. stuart: when you put your finger on it. they are politicians, are they not? they have to have in the back of their mind, they are politicians. they have to bear in mind the next election can they get reelected? can any politician get reelected by saying i am going to cut entitlements, cut spending? you are going to lose something? >> do you realize we have been doing this for 25 years? do you understand why we are in the mess we're in now? for 25 years both sides kicked the ball down and that is why we have not had a budget in three years. nobody wants to take a stand. every single republican, republican ran for
leader harry reid has joined her in making comments back at capitol hill. we'll let you know what they say as soon as that is transmitted to us. there are other directed comments they made little progress something they have been saying after the meetings the last few months. adam? >> we're looking to turn around reid's comments so we all can hear them. when you talk about the president he is up-or-down vote, someone referred to this as plan-c. is this the offer you reported on a while back where he would move the bottom line tax increase to 400,000 for the upper incomes as opposed to 250,000? is that on the table. >> we don't know if that is the specifically the offer on the table. it started at president's opening offer 250. you could see a pathway forward to raise the threshold up to 400, $500,000 a year, any amounts below that don't get tax increase. any amounts above that get tax increase. end of the year fixes preventing medicare doctors getting large pay cut. amt fix, prevents millions of americans paying the amt reform kick that to next year. that is sort of the path aides
" tonight. brace for impact. senate majority leader harry reid says it looks like we'll head over the fiscal cliff. with just four days until the deadline can president obama and congress still pull out a deal in the nick of time? senator john hoeven of north dakota joins us to respond. >>> plus, a game-changer for the insurance industry. an auto insurer unveils new policies that charge by the mile, giving a big potential boon to drivers. can it drive the competition off the road? the ceo of metro mile is here to take the wheel. >>> and big beer companies putting beer goggles on their customers. the market for kraft beer is booming and big labels are battling to get a foothold but they may be using crafty tactics to sell you the same flat brew in different packaging. less filling tastes great. even when they say it's not it is always about money adam: before we serve you that beer let's look at the day's market headlines. stocks fell for their fourth straight session. that dour outlook on the fiscal cliff from senator harry reid sent stocks tumbling but they came off the session lows followi
that senate majority leader harry reid will hold a news conference at 3:00 p.m. eastern time. this all comes on the heels that senator reid may be said we are going over the fiscal cliff. stocks now every 15 minutes. the "wall street journal" out with some retailers to watch in 2013. nicole: let's start off with harry reid's comments that we may go over the fiscal cliff. as a result, we are seeing a lot of down arrows. there is a market that started off in the green and then read. that is the action that we are seeing. getting to the retailers, there are a lot of retailers that have had a lot of headlines and in many cases have been struggling. jcpenney would be one of them. down nearly 5% on the day. they have been a big loser. you had ron johnson come over from apple. the "wall street journal" talked about a few retailers. four of them, to be exact. including best buy. that would be another one. radioshack. and also sears. these are the four names we have been watching very closely. a lot of these names are significantly lower. do or die in 2013 for those names. liz: thank you so much. pre
2000 down .8 of a percent. harry reid's comments setting the tone early. when he spoke the markets tanked. the senate majority leader said nothing is happening in budget talks and looks like the u.s. is heading for the so-called fiscal cliff. he compared it to the ball dropping on new year's eve dropping on times square more ominously. more from the nation's capitol. in terms of industry groups and what is not working we start with financials. they're the biggest drag. money center banks like bank of america down 1 1/4%. goldman down 1%. morgan stanley down .8 of a percent. all those stocks are under pressure. tech stocks notably weak. apple inching to the round 500 dollar level. down to 510. it was north of 700 when iphone 5 came out early september. so the bear market continues to apple. as you can see, google also down, down about five bucks on the day. ibm down slightly a .10 or two. hewlett-packard off today, down one 3/4%. coming up later we have a contrarian investors sees big opportunity for hp in 2013. he nailed down the move in bank of america this year. he said it was th
republicans and the far left in mr. obama's party. the president met with senate majority leader harry reid this afternoon and talked with speaker boehner to begin anew that eort to reach compromise. >> averting this middle-class tax hike is not a democratic responsibility or republican responsibility. with their foes the american people have determined that governing is a shared responsibility between both parties in this congress laws can only pass with support from democrats and republicans, and that means nobody gets 100 percent of what they want. lou: there are only ten days remaining to the fiscal cliff. president obama headed to value within actually minutes, and members of congress have also gone home for chrrstmas vacation already. in a news conference today, speaker boehner admitted negotiations with the president have, indeed, been difficult. >> until the president on monday, these are my bottom lines. the president told me that his numbs, $1 trillion in new revenues, 850 billion in spending cuts was his bottom-line. he could not go any further. lou: and he didn't. the plan be op
, it's up to the senate. staffers and a majority leader harry reid, minority leader mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part ofhe discussion. that is significant development r house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiate
havingg their problems and you know, two weeks ago now that harry reid was spending all of his time trying to find popcorn for a special showing of the lincoln movie? get to work people. >> neil: that's right, by the way, we have it on good authority he did find way to get a waiver so they could have food in the auditorium. i don't think it was buttered, just regular. >> no way, that's so good. >> neil: ben stein, the bottom line, nothing gets done and back and forth continues. >> it's a disgrace, first of all, aim not sure there are 330 million americans and your data may be-- >> 328.4, i digress. >> the real issue to me, the simple thing, they're our representatives, they're the government. they're supposed to be governing, not supposed to be pouting and throwing fits. they're supposed to be governing and this is a big giant issue, they've got to get to work. this, this comic game playing and pout ang showing off, it's a disgrace and they've got to come back and i think the president should call them back into session and get to work. >> i totally disagree. >> i knew you would. i knew yo
christmas short. harry reid and democrats expected to lay the groundwork for yet another plan to avoid the looming tax increases and spending cuts. old man winter wiping out the holidays for many people in the country. his work is not done yet. people worried about washington keeping their spending type. time for stocks now. nicole petallides is at the new york stock exchange. nicole: the dow is down about ten points. the s&p pulling back one quarter of 1%. a lot of the retailers loved like the biggest losers. 500 stocks are comprised and represent oriole to autos to airlines. the sector that was really lagging where the retailers. oil has been moving to the upside. there is a lot going on with that. and oil spike of two dollars. now, let's take a look at technology. we do see some of the tech stocks doing pretty well. hewlett-packard and intel have been among the real losers for the year 2012 on the dow. today, you continue to see this trend which is a little better. back to you. dagen: thank you. the senate returning to washington tomorrow. the president, as well. five days left to r
senator harry reid. this is what he said yesterday on the senate floor. >> american people don't understand the house of representatives operating without the house of representatives. it has been operated with a dictatorship of the speaker. stuart: that were dictatorship of the speakers very strong, confrontational language. joining me is the democrat's strategists, welcome back to the program. i am saying using language like that is not conducive to getting a deal or progress when the two sides get together at the white house this afternoon. that is a mistake. i don't think the senator should have said that. >> john boehner is not a dictator. he is being held hostage by members of his caucus who won't let him negotiate. i don't think it's fair to say he is a dictator of any kind. he has been trying to work something out, even raising taxes on people over $1 million. people of his own caucus won't let him do that. stuart: you are shining appraise -- >> i feel bad for the guy. i have been saying for weeks he lost control of the caucus. stuart: i won't point blamed either side.
boehner this afternoon. he also had majority leader harry reid to avoid the fiscal cliff and figure out a passport. he said he is ready and willing to try to get a compromise package done. all at once or stuff like that. but we'll have to wait until after the holiday. the president planning to hold out for the holidays, and congress is out for the holidays. the president saying that putting pressure began on republicans, house republicans, to least extend tax cuts for the middle class. that would be the step by scratch in transit approach and he is speaking to constituents back home who he hopes will give feedback to members of congress while they are there for the holiday to try to get them to agree or get back to the table to negotiate something. gerri: if it were up to me, i say that they work until they get their work done. thank you so much. have a great holiday. gerri: is back to the negotiating table. but have republicans lost their leverage? americans for tax reform, we have matti doppler. let's start with you. how much time can we spend spinning our wheels today we met nancy pe
in the white house just a few minutes ago. mr. harry reid. the senate has not passed a budget more than three years. the senate has not passed anything on the fiscal cliff greathouse have something with economics. all the senate has to do is pass something and they can go to a conference committee to get the whole thing ironed out. i think kerry reid and the senate and obama, because the democrats in the senate are doing his bidding, that is where the real obstacles to getting something done. >> there was a perception created that the vote last night would increase taxes. now, i disagree with that characterization. but that impression is out there. the number of our members who just really didn't want to be perceived as having to raise taxes. that was the real issue. gerri: in some ways he was talking about grover norquist. the man it is about this tax pledge where is the common ground there? >> the reason that we have a plan be now is because the houses are devoted to pass all of the bills. gerri: but how do you find common ground thee? them and that's what the speaker was trying to do. he w
with your fox business brief. the dow was down triple digits after senate majority leader harry reid said that the u.s. is poised to tumble over the fiscal cliff but there was a late-day turnaround on the news that the house will hold a special session on sunday night. >>> directv customers can expect to pay more for their programing packages in 2013. the satellite cable provider is planning to hike prices by an average of 4 1/2% starting february 7th, citing higher programing costs and expects to pay it. v channel owners next year. >>> amazon.com is the place to go for online shopping this holiday season. according to a new survey from forse amazon took the top spot thanks in part to its wide variety of merchandise and its user-friendly site. that's the latest from fox biz is about business, giving you the power to prosper [ male announcer ] this is the age of knowing what you're made of. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not ke viagra if you take nitrates for chest pain; it may cause an unsafe
harry reid, mitch mcconnell arriving at the white house, should have house leadership shortly to begin a meeting, a last ditch effort to try to help the economy avoid the fiscal cliff, or at least pieces of it, and, yes, the buzz around washington is a possible path forward that aids describe as preventing tax increase for income amounts of $400,000 or $500,000 or so, extend unemployment insurance, but, still, nothing has been agreed to. all in washington are waiting to see how this meeting goes. it's just about to start here in dc. meanwhile, on capital hill, the fighting continues, and in some corners, a sense of pessimism. >> if we don't have a deal within the next 24 hours, the question is where do you buy a parachute? we'll be going over the cliff because the closer we get to the end, the less likely it is you can compress an agreement into place that will have enough votes to pass. >> this is basically it. the first time in weeks the top democrat, the top republican from the house and senate have gotten together here at the white house with the president and vice president, congr
leader harry reid to leave the west wing. but at his point, three out of the four left. didn't say a word. we don't expect the senate majority leader to do anything different and actually talk to us about this one. so we're basically waiting for congressional aides to leak it to us. david: one thing that was just leaked to us, house speaker boehner is not going to the capitol. again they will have, they will meeting tomorrow. they may even meet sunday or even on new's year day, seems like things are wrapped up as far as john boehner is concernee. rich edson, thanks very much. shibani? shibani: goldman sachs ceo lloyd blankfein one of the ceo's set to speak with the president in an hour's time on latest details on the fiscal cliff talks. the financial sector on track for its biggest gain in nine years. what remains ahead for financials and what is at stake stake for the industry with the fiscal cliff looming? let's ask marty mosby, guggenheim bank analyst. let's talk about first, marty, we hear lloyd blankfein will be on phone to talk to president obama trying to garner his support,
. peter: everyone looking to leader harry reid and the president for plan c. they were discussing next steps to advert the cliff before the holiday on monday. no update today from the white house. a spokesperson for senator reid is saying "nothing to report. no conversations with republicans let." the spokesperson says "no outreach from any democrats. we are waiting on senate democrats." it looks right now that the cliff remains inside. lori: i heard you talking to dennis kneale earlier. the house generally has to post something for three days. realistically, right, everyone will come back tomorrow, they probably will not have anything by friday. peter: if they do something by friday, the house could vote on something by monday, new year's eve. the weekend could count. absolutely. they can actually do whatever they want. they can vote to waive the rules. yes, they have this three-day rule for making sure all members can read any legislation, any proposal that comes over from the senate. under the constitution, the house sets its own rules. lori: these goucher should have centered on ta
in america. wrong. >> majority leader harry reid is upset the usoc bought uniforms from china. >> they should be burned and start over again. john: people are desperate for jobs. isn't it outrageous we buy uniforms made overseas? no. in this stupid. let me bring in professional help. whnot to worry about sending work to other countries? >> a fundamental trade makes everybody off. it benefits both parties. john: they could have been made by american workers. >> but we are so much better at other things that making garments is not the comparative advantage. john: that is not a problem. those are factory jobs they're not so pleasant they're designed and marketed and sold and shipped in trucks made on machines built by americans. the chinese olympic team will fly to london on the american planes and this makes us richard? >> people don't get that. one could argue the uniforms were not manufactured in china, but grown in the soybean market and i was. they get bter wages we have lower prices. john: if made in america of people would be poor. another myth. overpopulation. asia is four. africa is for
, harry reid, mitch mcconnell, it is up to them to craft this thing. it is out of his hands for the next couple of days and into the hands of people in the senate. adam: rich edson at the white house. i know that you are going to regroup. gerri willis and "the willis gerri willis and "the willis right now. >> biological attack is possible. >> swine flu panic grips the nation. >> climate change is killing people. >> the media says life is horrible. >> poverty has reached new depths. >> but the media missed the big picture. >> i was only four when i saw my motherlode a washing machine for the first time. >> this is a wonderful word and getting better. his grandmother was thrilled by a washing machine. >> she sat down and watched the entire washing program. >> two, one, fire! >> the machines coming next or better thanks to competition. and they build school cars and space ships. >> entrepreneurs do what only governments did before. >> maybe cities will be built on water flow from big government. >> this is outside the united states jurisdiction. >> life gets better because ideas have sex. >
is looking to harry reid, the senate democratic leader and the president to make a move here in the standoff, white house and senate democratic staff were discussing steps to avert the cliff monday. we didn't get an update on the status of the conversations from the white house today. a spokesperson for senator reid saying, quote, nothing to report, no conversations with republicans yet. senate republican leader mitch mcconnell who can filibuster anything reid proposes, a spokesperson saying, quote, no outream from dems. we are waiting on senate democrats. if nothing's done, january 1st, the nation faces a $5 trillion tax increase over ten years through the expiration of the bush tax cuts and assuming congress does not approve the patch anded medicare doc fix, and other things. the lapse of the tax cuts means the top tax rate reverts to 39.6 from 35% now. taxes would also go up for lower income earners. the maximum low rate would revert to 15% from 10% now, and investors see capital gains rate revert from 20%, revert to 20%, rather from 15% now. depending on what analysis you look at, averag
will be on hand. also, mitch mcconnell, the minority leader, the president, and harry reid. everyone will be in play, and we will cover that for you. finally, good news for all you hot heads out there. in the study reveals that being hot tempers and expressing anger is good for you. it can add up to two years to your life span. after analyzing six dozen people, researchers from entering university conclude that overtime self restraint and holding back-oceans could cause you to develop serious health publications, high blood pressure, heart disease, kidney damage, and even cancer. bottom line, for the death your health express yourself. if you're angry, let it all out. don't hold the pack. expressing your emotions could be just the key to that enjoyed a long and healthy life. that's my "2 cents more." thanks for joining is. don't forget to record the show if you cannot catch us live. have a great night and will see you tomorrow. ♪ lou: good evening. the pounding, deafening drumbeat for gun control is rising. emanating principally from washington, the present, and members o
of texas with us. i want to read you what the treasury secretary wrote to harry reid. he said i'm writing inform you that the statutory debt limit will be reached on december 31. he wenon to say that they have special gimmicks they are going to deploy to allow us to go past december 31. we have to tell you that here we are again. nothing is being done. we have no resolution of the fiscal cliff h and we are about to hit our heads on the debt ceiling. what you have to say? >> first off, let's remember that the debt limit is no surprise. the surprise is that he shouldn't be surprised. it's his job to keep track of this. and everybody knew that we are going to run out of money in december. apparently except for him. one ofthe big secrets during the presidential election, there were a lot of things that the administration kept from the american people. one of the big secrets was that we would hit this debt limit in december. because of the way they have been spending money for that past year. they have $150 trillion in january, remember? we all talked about that. they have blown through in le
minutes away from this session, will include the president, congressional leadership, harry reid, john boehner, last-minute invite and mitch mcconnell. here is what they are considering. we have $5 billion in additional taxes kick in after the first of the year. this will affect everybody including middle-class people, $3,500 is the average tax hit for american families. what happened to consumer confidence? is down dramatically. people getting a sense of what will look like and constrain their lives. the wealthier you are the more you pay. a lot of people out there are suddenly and the only now getting the sense of how much money this is going to be and they don't like it one bit. adam: is their legitimacy to selling off government assets? will homeowners do it? chicago did it, they sold off their parking meters, not popular in chicago. gerri: it is usually desperation police. you saw the city of baltimore, ball park or something, things are as bad as they're going to get and we have to do what we cannand usually they are entrenched interests that won't that use of amtrak or that kind
Search Results 0 to 45 of about 46 (some duplicates have been removed)

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